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Tower Automotive posts $13.34 million September operating loss
By Caroline Salls
Pittsburgh, Oct. 30 - Tower Automotive, Inc. reported a $13.34 million operating loss for September on revenues of $119.11 million, according to its monthly operating report filed Monday with the Securities and Exchange Commission.
The figures show a decline from a $7.46 million August operating loss on revenues of $121.30 million.
The net loss for September was $111.86 million, compared with a $16.84 million August net loss.
The September net loss included $93.39 million of Chapter 11 and related reorganization items.
Cash and cash equivalents on Sept. 30 were $34.49 million, up from $12.73 million at the end of August.
The Novi, Mich.-based auto parts maker filed for bankruptcy on Feb. 1, 2005 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 05-10578.
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